“I have been telling you for years now that jobs will come back, but the pay would be flat. Read this article. Then I want you to sit down with your spouse and figured out how to make 2015 the year you add something new to your main activities that will improve your financial position in the world.
Your friend in sales and in business” – GC
Our trouble with jobs: The pay still stinks by Jeff Cox
There was a lot to like about the December nonfarm payrolls report—except, of course, for those who were making less money at the end of the month than they were at the start.
Easily the most jarring aspect from the Bureau of Labor Statistics’ numbers was the drop in hourly earnings. The 5-cent decline brought the average annual increase down to a mere 1.7 percent, indications that while the job market overall may be continuing to improve, the underlying fundamentals still need some work.
Average hourly earnings dropped from $24.62 an hour to $24.57 in December, with the typical paycheck off $1.73 to $850.12, according to BLS data released Friday.
The headline numbers of a 5.6 percent unemployment rate and 252,000 new jobs, while positive enough on their face, didn’t tell the whole story of a labor market that still is struggling in some aspects.
Full article at: CNBC